ThinkMarkets’s Mario Rizzo pulls the curtain from the the ‘stimulus’ magicians.
Stimulus Working?
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The comments to Rizzo’s post are almost as funny.The administration’s rationalization is just a great example of how people react in the face of a painful reality–particularly being wrong. We see it even arguing with people holding untenable positions on this forum (the sane ones anyway). People do change their arguments in the face of unexpected reality, but almost never to a mia culpa. Instead the change consists of more and more ridiculous arguments in defense of the same fixed untenable conclusion.In the case of the administration you wind up with an argument completely devoid of any informational value–a claim which could be true under any circumstances but explanatory of none. It’s silliness has reached the level where even the bulk of people answering polls don’t buy it.